Oh come on now, what's a little resistance on the daily and no compelling positive news? The Fed will "save our stocks" (SOS).
You guys are wrong. Did anybody see TWLO, ADSK, WDAY, CRM? Granted they were all overpriced and sold off as individual stocks... but they had blowout numbers. This is reflective of whats really going on. They wouldn't be generating this type of revenue if things weren't on fire. America is open for business. That bs yesterday was just shaking out the weak longs. This market is going higher. 2860 near term easy. Long at 2787.75
In fullness of time, I believe the market goes higher. Right now, I am in cash and will re-enter when I see fit.
Markets rarely trade on fundamentals. Rather they trade on perception of fundamentals and emotions. This is why I am purely a technical trader and put zero weight on any news when it comes to determining market direction.